Government To Improve Ease Of Doing Business In Ghana In Next Coming Months

The Vice President of Ghana, Dr. Mahamudu Bawumia recently announced 10 different measures which will be introduced by Ghana’s Ministries, Departments and Agencies over the next nine months in an effort to improve the Ghana’s business environment.

The reforms are within the framework of the World Bank Group’s Doing Business Report, which provides objective measures of business regulations for local firms in 190 economies and selected cities at the subnational level.

“These reforms are further demonstration of government’s commitment to removing the obstacles that have long kept businesses in Ghana from reaching their full potential. We aim to unleash the Ghanaian entrepreneurial spirit and open our doors to the world” the Vice President said.

Ghana’s Ease Of Doing Business Score

“Through our work in advising Government in over 80 countries globally and over 30 in this region, we know that having the commitment at the highest level of leadership is one of most important ingredients of the reform agenda,”said Ronke-Amoni Ogunsulire, IFC Country Manager for Benin, Burkina Faso, Ghana, Niger, and Togo. “With the appropriate reform structures in place, efficient coordination and accountability mechanisms, Ghana has the right formula to succeed and implementing an investment climate conducive to growth of businesses” she added.

The Reforms

10 different reforms which will take effect between March and June 2019. These include:

1. For companies applying to register without a TIN number, the TIN number will now be generated automatically online at the point of application;

2. A mobile app and an online platform for the ease of filing tax returns; Individuals will be able to file their taxes online by April 2019

3. Implementation of an electronic justice system that allows the automated serving of court process with speed and ease

4. Removal of the requirement for a commissioner of oaths in registering a company when the companies bill is passed

5. Merger of all four starting-a-business application forms: TIN application, SNNIT application, Business Operating Permit application and Business Registration forms;

6. Automation of the application for Business Operating Permit along with instant online issuance following payment

7. Reduction and automation of the steps to getting electricity;

8. Automation of the construction permit system along with instant online issuance following payment;

9. Reduction in physical examination of containers through the use of risk engine;

10. Passage of the Insolvency Bill and the Companies’ Bill into law by Parliament